They waived forward Metta World Peace on Thursday under the NBA's amnesty provision, which will save the team about $15 million in luxury tax. He was set to earn $7.7 million next season, which the Lakers must pay.

He averaged 12.4 points and five rebounds in 75 games last season, having joined the Lakers in 2009. World Peace, 33, tore knee cartilage in March and clearly wasn't the same player afterward.

The former Ron Artest legally changed his name during his Lakers tenure.